Bitcoin and Ethereum Market Analysis on 8.5: BTC, ETH Today’s Highlights

Market Review

Yesterday, BTC continued to rebound without significant volume, a corrective trend on the 4-hour chart, reaching the resistance level of 115500 but unable to break through, continuing to consolidate. The downward momentum on the daily level is weakening, waiting for correction. The weekly trend has shown some recovery, pay more attention to fundamental information, the Federal Reserve's interest rate cut process, and expect to maintain consolidation during the day. In terms of the longer cycle, a new round of upward cycle has started on the weekly chart.

Altcoins followed BTC's synchronized rebound, with a slight divergence on the 4-hour chart. The rebound exceeded expectations but still needs correction. The downward momentum on the daily level is weakening; pay attention to changes in the 4-hour trend, and expect to maintain consolidation during the day.

Altcoins followed the mainstream in a synchronized rebound, with the altcoin index returning to a low level and market sentiment again low. Pay attention to BTC's market share situation and fiat currency buying signals to determine altcoin activation signals. Coins under ETH are more affected by ETH, with PENDLE experiencing significant corrections, which can be considered for accumulation while waiting for a rebound. Recently, Binance has been active with frequent events, and Alpha points activities are ongoing; you can use the points to your advantage. There have been quite a few profits recently, making it a good time to take advantage.

Today's Highlights:

BTC 1-hour and 4-hour levels have returned to healthy levels, and the daily level has returned to normal levels. Expect to maintain consolidation during the day, with support at 113500-114000 and resistance at 115500-116000.

ETH 1-hour and 4-hour levels have returned to healthy levels, and the daily level has returned to healthy levels. Expect to maintain consolidation during the day, with support at 3520-3600 and resistance at 3700-3750.